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Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices more than doubling since the end of last year.
Traders are now torn between prospects for a continued rally and a pullback on the heels of global efforts toward net-zero emissions.
Based on the most-active contracts traded on ICE, futures for Newcastle coal NCFF23, -1.61%, the Asian-Pacific region benchmark for thermal coal that’s exported from the Newcastle coal terminal in Australia, was at $408.80 on Dec. 6, up 141% from Dec. 31, 2021, according to FactSet data. Coal’s gain this year leads the overall rise among major commodities.
Tight supply due to wet weather in Australia hampering production; strong demand from India, China, and others; and the European energy crisis” all contributed to strength in coal prices, says Will Rhind, founder and CEO of GraniteShares, which runs the GraniteShares Bloomberg Commodity Broad Strategy No K-1COMB +0.38% exchange-traded fund COMB, +0.52%.
Following Russia’s invasion of Ukraine, European countries scrambled to replace Russian energy with alternatives, as Russian natural-gas supplies to Europe were mostly cut off. China has been “extracting record amounts of coal from its own mines as it seeks to insulate itself from the volatility seen in global energy markets,” says Rhind. “Outages from other European energy sources, such as hydro and nuclear plants…exacerbated the situation.”
Overall, “coal remains the largest source of electricity in the world,” he says. It’s the “cheapest to mine, easy to transport, and efficient to burn.”
Coal accounted for about 36.5% of the global power mix in 2021, followed by natural gas with a 22% share, according to Statista. In the U.S., coal accounted for 21.9% of the total 2021 amount of electricity generated at domestic power facilities, while 38.4% was sourced from natural gas, according to the Energy Information Administration.
Global supply of high quality thermal coal has been tight since before the invasion of Ukraine, says Wendy Schallom, coal analyst, analytics, at S&P Global Commodity Insights. The resulting ban on imports of Russian material by the European Union, Japan, and others, and the search for replacement coal, exacerbated the spot coal price rise, she adds.
There has also been a “diversion of coal supply,” originally destined for Asia, moving to Europe to replace the high-quality Russian supplies, says Schallom.
“Fuel switch price signals” had been firmly in favor of hard coal generation since the fourth quarter of 2021, she says, but the recent sharp fall in European gas hub prices means that those price signals reversed in October, with coal-to-gas switching settling in for the first time in more than a year.
If European gas prices recover as expected, fuel switch price signals will reverse again, with gas-to-coal switching likely to soon return, Schallom says. “This will put renewed pressure on German gas and support German hard coal generation.”
Meanwhile, it isn’t surprising that strong use of coal represents a setback in the world’s efforts to meet net-zero emissions by 2050. Developed nations need to entirely eliminate coal plants by 2030, and the rest of the world by 2040, to meet that goal, says GraniteShares’ Rhind. The two largest coal consumers, however —India and China — are investing even more in coal, expanding their power-plant network through the end of the next decade, he says.
Rhind expects global coal demand to remain high, but prices may “moderate” in 2023, especially if there’s a resolution to the Russia-Ukraine war. Supply will remain constrained, but ironically, higher coal prices will almost certainly contribute to increased demand for renewable energy “in order to find cheaper, more environmentally friendly, and independent sources of energy.”
Source: MarketWatch
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Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
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- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
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